Velesto Energy Berhad (‘Velesto’), through its subsidiary Velesto Drilling Sdn Bhd, has signed a memorandum of understanding (‘MoU’) with SLB at the SLB Digital Forum 2024 in Monaco.

The three-year collaboration will see SLB deploy its DrillOps™ Intelligent Well Delivery and Insights Solutions as well as its Drilling Emissions Management Solutions on designated Velesto rigs. These digital solutions are designed to enhance and optimize drilling
performance and monitor emissions, unlocking commercial potential for both parties.

Megat Zariman Abdul Rahim, President of Velesto said, “This agreement represents a significant shift in our approach to enhancing our rig technical capabilities. By integrating high quality service, safety and, the latest in digital and technological
advancements, we are committed to delivering high performance and efficient outcomes for our clients.”

The MoU reflects a commitment from both parties to explore new opportunities and deliver mutual benefits by leveraging the unique strengths and capabilities of each
organization, paving the way for innovative approaches to meet industry challenges.